India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
MUMBAI: UPI services saw widespread disruption on Wednesday, with several users reporting failed transactions and server errors, especially among customers of State Bank of India (SBI) and UCO Bank. Many users flagged the issue on X as it continued through the morning. Data from outage monitoring site Down detector showed a sharp spike in complaints, suggesting a widespread technical issue. Among the banks affected, SBI faced the brunt, with over 500 outage reports, while UCO Bank recorded around 40 complaints. UPI-related downtime reports also crossed 40, with the numbers rising steadily as more users reported problems. The disruption spanned multiple cities, including New Delhi, Mumbai, Bengaluru, Jaipur, and Pune. SBI users in Kolkata, Guwahati, and Chennai also reported failed transactions, while UCO Bank issues were mostly reported from New Delhi, Jaipur, and Kolkata. While SBI earlier said its scheduled maintenance timing had been revised to 11:00 am to 11:45 am on April 1, 2026, it later extended the maintenance end timing to 12:30 pm. The bank warned that services such as UPI, IMPS, YONO, internet banking, NEFT and RTGS may face disruptions during this period. It advised customers to use UPI Lite, eRupee (CBDC) app and ATM services during the period.
Air India launched a Black Friday Sale with discounts up to 20% on domestic flights and up to 12% on international flights to various destinations. The sale is available through the airline's website and mobile apps. Additional savings are possible with waived convenience fees and specific payment methods. The airline continues offering student and senior citizen discounts.Air India on Friday launched a limited-time Black Friday Sale offering discounts of up to 20 per cent off base fares for domestic flights within India. The Tata-owned airlines will also offer up to 12 per cent off base fares ...Read More >
Kota, Jun 6 (PTI) A relationship manager in an ICICI bank branch in Kota allegedly swindled around Rs 4.58 crore from customers' accounts only to lose the lot of it in the stock market, police on Friday said. She was arrested last week and is currently under judicial custody, they said. The accused, Sakshi Gupta, was posted as a relationship manager at ICICI Bank's DCM branch. Police said she had been pilfering from more than 110 accounts belonging to 41 customers for around two and a half years. She allegedly invested these amounts in the stock market and lost a large chunk of it, they sa ...Read More >
New Delhi: It is the first day of the new month, in which many big rules have changed, and some are about to change. Do you know that there has been a big change in the rules related to credit cards? This has been done in the rules related to the credit card of HDFC Bank, one of the big banks of the country. Now, people will have to pay a 1 per cent charge for making HDFC credit card payments through a third-party app. This is also considered a big setback for the users. The big change will also be implemented from July 1. Charges will also be levied on utility bill payments. What will be the ...Read More >
Bengaluru : Muthoot FinCorp Limited ("MFL" or "Company"), the flagship company of the 138-year-old Muthoot Pappachan Group (Muthoot Blue), has announced the launch of the secured and redeemable non-convertible debentures ("NCDs") with a face value of Rs.1,000 each, scheduled to open on Friday, July 04, 2025. The Tranche VI Issue has a base size of Rs.10,0 crore with green shoe option of Rs 190 crore , aggregating to Rs.290crore ("Tranche VI Issue"). The NCDs under the Tranche VI Issue are being offered with maturity/tenure options of 24, 36, 60 and 72 months, with monthly, annual and cumulati ...Read More >
Mumbai: The State Bank of India (SBI), the country's largest public sector bank, has announced a revision in its Immediate Payment Service (IMPS) transaction charges for online fund transfers. Starting August 15, customers transferring more than Rs 25,000 through online platforms such as internet banking or mobile banking will be subject to nominal fees. This marks a significant shift in the bank's digital transaction policy, although IMPS transactions made through branches will remain unaffected by these changes. According to details posted on the official SBI website, online IMPS transactio ...Read More >
The Enforcement Directorate conducted multi-state searches across 15 locations, including Mumbai and Delhi-NCR, as part of a money laundering investigation. This probe targets the Parimatch betting app, accused of defrauding users of approximately Rs 2,000 crore. The funds were allegedly laundered through mule accounts, payment aggregators, crypto wallets, and ATM withdrawals. The Enforcement Directorate (ED) on Tuesday conducted multi-state searches as part of a money laundering investigation i ...Read More >
New Delhi [India], August 14: inDrive, the world's fastest-growing urban mobility platform and India's only ride-bargain app, announces the launch of its Comfort Class rides in Kolkata and Chandigarh. The launch comes just ahead of India's Independence Day, symbolizing the platform's commitment to freedom of choice, fairness, and empowerment for both riders and drivers. Also Read | UPI New Rule: NPCI To Stop UPI Collect Request for Person to Person Transactions Starting October 1; Here's Why. Challenging the Status Quo - Celebrating Freedom in Mobility Much like India's fight for independen ...Read More >
October 2025 is packed with major festivals like Dussehra, Diwali, Chath Puja and Durga Puja In this festive season, several states will observe many bank holidays during the month. In October 2025, there will be a national holiday when banks across all states will remain closed. Due to various local festivals, several bank branches will also remain closed in different states. While online banking services will remain available, the Reserve Bank of India (RBI) has listed specific days in October ...Read More >
Speaking at IIT Bombay's Techfest 2024, Mr Adani, the 27-year old younger son of infrastructure magnate Gautam Adani, said the future of technology is both scary and exciting. India cannot stay out of global technological race, said Jeet Adani. Mumbai: India cannot stay out of global technological race and should build capabilities that will keep it at the top while remaining vigilant against its misuse, said Jeet Adani, Director, Adani Airport Holdings Ltd. Speaking at IIT Bombay's Techfest ...Read More >
Kota: In a major bank fraud, a relationship manager of ICICI Bank, Sakshi Gupta, has allegedly siphoned off Rs 4.58 crore from customer accounts in Kota city.The accused worked at Shriram Nagar branch of DCM area in Kota and committed the fraud during the 2020-23 period. She was arrested by the Udhyog Nagar police on May 31 following investigation. The crime first came to light on Feb 18 ,following which the branch manager lodged a complaint with the police.According to police, for around two-and-a-half years, Sakshi withdrew funds fraudulently from over 100 accounts of 41 customers. She purpo ...Read More >
NEW DELHI: The ED arrested a foreign currency businessman and one of the masterminds in a Chinese App investment fraud case involving over Rs 903 crore and seized incriminating documents during searches at his five premises in Delhi, an official said on Friday. Rohit Vij, the mastermind in the conversion of proceeds of crime into forex, was arrested on June 30 for his links to a fake investment app named 'LOXAM', claiming to be related to a reputed French MNC Group of the same name. The business entities and associates of Vij were searched under the provisions of PMLA, 2002, said an official. ...Read More >
MUMBAI: Reserve Bank Governor Sanjay Malhotra, who had earlier stated that UPI cannot remain free forever and that someone else is now paying for it, on Wednesday said the digital payment app will remain a zero-cost platform to encourage its wider adoption. "Currently, we have no proposal to impose any charges on UPI transactions," Governor Malhotra said during the customary post-policy presser in response to a question from the press. Addressing concerns about possible charges on digital payments, he clarified that "UPI will continue to remain free for users under present policy." This com ...Read More >
New Delhi, Jun 6 (PTI) PhonePe on Friday said it has acquired the IP of GSPay -- a proprietary technology stack from conversational engagement platform Gupshup -- to enable UPI-based payments on new feature phones. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and receiving money via mobile numbers or self-QR codes. Industry research indicates that there were over 24 crore feature pho ...Read More >
New Delhi, Jun 6 (PTI) PhonePe on Friday said it has acquired the IP of GSPay -- a proprietary technology stack from conversational engagement platform Gupshup -- to enable UPI-based payments on new feature phones. The company in a statement said it plans to customise the stack and launch its own UPI payment app for new feature phones in India in the next few quarters. Also Read | How To Activate Your UAN Online? Step-by-Step Guide As EPFO Extends Activation Deadline to June 30, 2025. The new app will offer essential UPI features such as peer-to-peer transfers, offline QR payments, and rece ...Read More >
Mumbai: The Nifty PSU Bank Index jumped more than 2.5% Monday after the finance ministry urged these lenders to offer more credit and monetise subsidiaries through IPOs and stake sales. They bucked the declines in the rest of the banking space. The Nifty PSU Bank Index gained 2.7%, while the Bank Nifty and benchmark Nifty lost 0.2% and 0.5%, respectively. All 12 stocks in the PSU Bank index closed higher. Bank of Maharashtra soared 5.3% while Punjab National Bank and Bank of Baroda rallied 3.9% and 3% respectively. Union Bank, Canara Bank, UCO Bank and Indian Bank gained over 2.5% each. Anal ...Read More >
New Delhi: Boasting of digital growth in India's largest public sector bank State Bank of India (SBI), Union finance minister on Tuesday said that digital transformation undertaken by SBI in the last decade has been immensely beneficial to its customers. Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the bank will continue to innovate and empower as India continues its journey towards 'Viksit Bharat' by 2047. "With over 23,000 branches, 78,000 customer service points (CSPs) and 64,000 ATMs, SBI's footprint today is formidable and it is truly the ba ...Read More >
New Delhi, July 17: In a major move that could bring relief to over 7 crore Employees' Provident Fund Organisation (EPFO) members, the Centre is reportedly considering a proposal to allow full or partial withdrawal of EPF savings after 10 years of service. According to a Moneycontrol report, the retirement fund body has floated this idea to address the needs of those who wish to exit the formal workforce earlier than the official retirement age of 58. Currently, EPF members can withdraw their full balance only upon retirement or after remaining unemployed for over two months. However, many in ...Read More >
Bank holidays in India vary from one region to another. They differ from one state to the next and are often influenced by local festivities, religious events, and regional festivals. Many people in India are unsure about bank holidays. Reserve Bank of India states banks are closed on the second and fourth SaturdaysWith a busy work schedule, many individuals push their bank related work to Saturday to visit the branch and finish transactions. However, it is always confusing to know if this Saturd ...Read More >
New Delhi: When you apply for a credit card, you usually check things like the features, rewards, and which bank is giving you the card. But did you know that there's a situation where the bank really doesn't matter much? It sounds odd, but it's true -- this happens with RuPay credit cards! RuPay cards, made by NPCI, can be connected to UPI. Once you link your RuPay credit card to UPI, you can make payments through UPI just like you would from your bank. The main difference? Instead of the money coming straight out of your account, the payment is charged to your credit card. Then, at the end ...Read More >
Fintech platform CRED is postponing its IPO, deeming itself "too young" and prioritizing building a robust financial ecosystem. CEO Kunal Shah aims to deepen relationships with affluent users and expand product offerings, fueled by a recent $75 million Series G fundraise. CRED launched new features including asset tracking, curated fixed deposits, and premium credit cards. Fintech platform CRED has ruled out an initial public offering (IPO) in the immediate future, with Founder and CEO Kunal Sha ...Read More >
Bengaluru: Fugitive liquor baron Vijay Mallya approached the Karnataka High Court on Wednesday seeking direction to banks to provide details of the total amount recovered against loans obtained by him, United Breweries Holdings Limited (UBHL, now in liquidation). Considering the plea, the High Court has issued notices to concerned banks in this regard. The bench headed by Justice R. Devadas passed the order issuing notices to banks, and recovery officers and adjourned the matter till February 19. Senior counsel Sajan Poovayya appearing for Vijay Mallya submitted to the court that the loan a ...Read More >
Bhubaneswar: Revenue minister Suresh Pujari on Saturday said Odisha would not be allowed to follow the lawless path in sand operations like it is in Bihar and West Bengal, while responding to the recent assault of an additional tehsildar in Kaptipada block, Mayurbhanj district, by the sand mafia. He promised stringent action against the sand mafia regardless of their connections, while speaking to mediapersons here on Saturday."The Kaptipada incident represents a serious escalation in conflict between law enforcement and the sand mafia. The attack on officers performing their enforcement dutie ...Read More >
DHARMAPURI: For the third time in the past two months, a wild leopard wandered into a private farmland near Valaithottam village near Palacode and hunted chicken raised by a local farmer. Locals are increasingly distressed and urged the forest department to take steps to relocate the leopard. Over the past few months, there have been several reports of leopard sightings in forest areas near Palacode, particularly in Valaithottam village, near the forest's fringe. There have been two instances when the leopard attacked farmlands, taking away a domestic dog and a chicken. On Saturday, the leop ...Read More >
Mumbai, June 30 (SocialNews.XYZ) After rising for four straight sessions, the Indian stock markets took a breather on Monday as investors booked profits amid the absence of strong domestic cues. The Sensex dropped 452 points, or 0.54 per cent, to close at 83,606.46. During the day, it moved between an intra-day high of 84,099.53 and a low of 83,482.13. Nifty also followed suit. The 50-share index opened at 25,661.65, touched a high of 25,669.35, and closed at 25,517.05, down by 120.75 points or 0.47 per cent. In contrast, the broader markets performed better. The Nifty Midcap100 rose 0.6 pe ...Read More >
Lucknow: Mayor Sushma Kharkwal participated in a two-day national conference of urban local body (ULB) heads in Manesar (Haryana) and stressed on urban development and the role of women in local governance.Representatives from across the country, including mayors, municipal corporators, zila parishad heads, and urban planners, participated in the event.Kharkwal highlighted the need to implement the 74th Constitutional Amendment in full, to give ULBs more authority in decision-making, financial matters and administration. She presented steps taken by the Lucknow Municipal Corporation, including ...Read More >
New Delhi [India], July 9 (ANI): Indian banks witnessed significant gains in market capitalisation during the April-June quarter of 2025, driven by falling interest rates and increased liquidity, which collectively attracted investor confidence. According to S&P Global Market Intelligence data, 18 of the top 20 Indian lenders, including the nation's three largest, saw their market cap rise.HDFC Bank Ltd., India's largest bank by market cap, registered a strong 9.70 per cent increase in its market capitalisation. Its private sector counterpart, ICICI Bank Ltd., also posted a healthy gain of 7.4 ...Read More >
New Delhi, July 11 (UNI) A latest note titled 'Growing Retail Digital Payments: The Value of Interoperability' presented by International Monetary Fund (IMF) highlighted India as a global leader in making fastest payments which is due to the adoption of UPIs or Unified Payment Interface by a wide number of masses. This report is authored by Alexandar Copestake, Divya Kirti, and Maria Soledad Martinez Peria. The global economic watchdog also stressed the transition from cash to card-based transactions to UPI or Unified Payments Interface since its launch in 2016. Unified Payments Interface is ...Read More >
New Delhi, Jul 15 (PTI) State-run telecom firm MTNL has defaulted on bank loans worth Rs 8,585 crore from seven public sector banks, the company said in a regulatory filing on Tuesday. The loss-making public sector telecom firm's total debt obligations reached Rs 34,484 crore as on June 30, 2025 comprising bank loan of Rs 8,585 crore, sovereign guarantee bond Rs 24,071 crore and loan for DoT for paying Sovereign Guarantee Bond interest Rs 1,828 crore, according to the filing. Also Read | Gemini AI Pro Free for Indian Students: Google Offering Its Most Advanced AI Tools for Full Year, Know Be ...Read More >
Patna, Aug 1 (PTI) Healthcare services were affected at AIIMS-Patna on Friday as resident doctors went on an "indefinite strike" in protest against the alleged high-handedness of Sheohar MLA Chetan Anand. According to a press statement issued by the Resident Doctors' Association (RDA), AIIMS-Patna, on Friday, "The RDA expresses deep disappointment and anguish over the lack of action by the administration following the violent and traumatic incident that occurred on Wednesday, when MLA Chetan Anand, his wife and their armed guards breached hospital security, physically assaulted staff, and thr ...Read More >
New Delhi [India], July 4 (ANI) In a major crackdown on cyber-enabled financial fraud, the Enforcement Directorate (ED) has arrested one Rohit Vij, identified as one of the masterminds behind a Chinese app-based investment scam involving the fake mobile application 'LOXAM. As per a statement from the ED, the accused lured unsuspecting investors with promises of unrealistically high returns, defrauding them through the fraudulent app. Vij, the mastermind in the conversion of proceeds of crime into forex (foreign exchange), was arrested on June 30 and has been accorded five-day ED custody by a ...Read More >